Trade Secret Audit

Intellectual Property AuditsWhere would your business be if someone walked off with the secret formula of your most valuable product? Your client lists? Your confidential business strategies? Other confidential information that has been entrusted to you? Multinational companies lose billions of dollars annually as a result of trade secret theft. And no company is immune...

One way to reduce the risk and consequences of trade secret theft is to conduct a trade secret audit. An audit will allow you to identify your company’s valuable trade secrets, evaluate your current protection strategy, analyze the strengths and weaknesses and formulate a plan for protecting intangibles against potential unlawful intruders.

Our attorneys are not only trained in trade secret protection and litigation, but also employment law, privacy issues, and other innovation protection, such as patent, copyright and trademark law. Further, our outsourced experts in computer data security and employee monitoring can assist us in developing the best methods to safeguard YOUR company assets.

A trade secret audit will uncover things like defects in title, vulnerabilities in employment agreements and license agreements, and company procedures that need revising or updating. A trade secret audit is also necessary for facilitating certain transactions, like mergers or acquisitions, as well as the transfer of a significant IP asset. It will sharpen your business strategies and position your company to fully exploit your most valuable assets. Taking these precautionary measures will position your company to successfully pursue legal challenges if ever necessary.

Trade Secret Audit Services:

Physical Security Practices. We will audit your existing physical barriers to gain access to your trade secrets and make recommendations for facilities access and control and inventorying of your trade secrets.

Data access and management. Our team will work with onsite computer experts who will analyze your computer monitoring and data management control systems and recommend a full data security plan. We will work with other professionals to consult with you about systems to monitor for malicious network activity (intrusion detection and protection systems).

Employee theft prevention consultation. A thorough review will be made of your employment agreements to ensure they are providing your employees information on the proper handling of your trade secrets, while providing legal remedies in the event of a misappropriation. We will review your employee confidentiality, non-compete and assignment of inventions agreements and employee manuals to ensure you are getting the broadest, most effective protection possible. Further, we can develop an employee-monitoring system for observing employee activities using recording and the latest surveillance equipment, while maintaining employee privacy interests.

Customer and Vendor Contract Review. We will audit your current customer and vendor agreements to ensure proper safeguards are in place for protecting trade secrets, conveying only those intellectual property rights that are appropriate in various situations.